The British pound reported a volatile session against the US dollar on Monday. The currency pair lost only 11 pips at a closing price of 1.2722. Daytime extreme values were reached at 1.2759 and 1.2706 respectively. A more significant challenge for the couple in the downward direction is the 1.2700 level. A potential breakthrough will create the possibility of a prolonged decline.
GBP/USD closed above 1.30 for the first time since May 19 after Carney’s hawkish twist on Wednesday yielded a bullish descending broadening wedge breakout. The currency pair traded above 1.30 levels in the Asian session today.
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